The Riverside Company has announced it has sold The Marena Group to CenterGate Capital.
Marena, founded in 1994 and based in Lawrenceville, Georgia, is a manufacturer of medical-grade compression garments, specializing in post-surgical recovery solutions for invasive and non-invasive surgeries, mastectomy, maternity and post-pregnancy, and lipedema.
Riverside, founded in 1988 and co-headquartered in Cleveland and New York, focuses on acquiring and investing in growing businesses valued at up to $400 million. The firm seeks control, non-control and growth equity investments across several industries, including healthcare. Riverside pursues companies across multiple segments of healthcare, including services, information technology, products and distribution.
CenterGate, founded in 2014 and based in Austin, Texas, is a private equity firm that specializes in lower mid-market investments in healthcare and a few other sectors. The firm targets companies with between $5 million and $30 million in EBITDA and focuses on control equity investments.
Terms of the transaction were not disclosed.
